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GBP/USD declines continue
Yesterday’s GBP/USD decline has continued into today, although at a gentler pace. Nonetheless, the decline from $1.47 continues, and the likelihood is that we will continue to see weakness in coming sessions, with a rally off the back of oversold levels yesterday and today potentially bringing out further sellers.
The next area to watch is the 50-day simple moving average (SMA) at $1.44. Below this, we look to the rising trendline that has held so far this year, with support coming in around $1.4340.